Park Aerospace (NYSE:PKE) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Park Aerospace shares crossed above their 200-day moving average of $14.48, reaching a high of $18.86 during trading.
• Wall Street analysts have downgraded Park Aerospace from a "buy" to a "hold" rating, indicating a cautious outlook on the stock's future performance.
• The company recently declared a quarterly dividend of $0.125, translating to an annualized dividend yield of 2.8%, although its payout ratio is significantly high at 147.06%.

Park Aerospace Corp. (NYSE:PKE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.48 and traded as high as $18.86. Park Aerospace shares last traded at $18.15, with a volume of 204,972 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Park Aerospace from a "buy" rating to a "hold" rating in a report on Monday, May 19th.

Park Aerospace Trading Up 1.0%

The company has a market capitalization of $354.56 million, a price-to-earnings ratio of 52.46 and a beta of 0.45. The firm's fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $14.51.

Park Aerospace (NYSE:PKE - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The semiconductor company reported $0.10 earnings per share for the quarter. The business had revenue of $15.40 million during the quarter. Park Aerospace had a return on equity of 7.60% and a net margin of 10.98%.

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.125 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.8%. Park Aerospace's dividend payout ratio is 147.06%.

Institutional Investors Weigh In On Park Aerospace

A number of hedge funds have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. boosted its stake in shares of Park Aerospace by 62.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,659 shares of the semiconductor company's stock valued at $801,000 after buying an additional 20,997 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Park Aerospace in the 1st quarter valued at about $450,000. Dimensional Fund Advisors LP boosted its stake in shares of Park Aerospace by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 693,130 shares of the semiconductor company's stock valued at $10,154,000 after buying an additional 21,452 shares during the period. Northern Trust Corp boosted its stake in shares of Park Aerospace by 4.6% in the 4th quarter. Northern Trust Corp now owns 173,657 shares of the semiconductor company's stock valued at $2,544,000 after buying an additional 7,609 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Park Aerospace in the 4th quarter valued at about $47,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.

About Park Aerospace

Park Aerospace Corp., an aerospace company, develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the aerospace market in North America, Asia, and Europe. It offers advanced composite materials, including film adhesives and lightning strike protection materials that are used to produce primary and secondary structures for jet engines, large and regional transport aircrafts, military aircrafts, unmanned aerial vehicles, business jets, general aviation aircrafts, and rotary wing aircrafts.